2015: Chinese yuan over-valued and Beijing will devalue

We said:

Yuan on the edge of a cliff. RMB over-valued by between 10-15%. A weaker currency needed to boost exports and keep growth and employment on track. (LSR Daily Note 16th February 2015)

Outcome:

Yuan began the year at 6.25 to the USD and finished the year at 6.70. The step devaluation in August 2015 shocked markets leading stocks to sell-off and raised questions about global growth and currency wars.